piyu7444
05-12 11:10 PM
This might come as a surprise to some of you, but someone needs to say it out loud. GET A LIFE FOLKS!!!! there is more to life then EB, GC and all. it seem all we desi's can think of is how to get a green card so we can live here with peace and never have to worry bout getting laid off or anything.
Few points:
1) having gc is a privilege not a right.
2) US has every right to choose whom they want to have in their country.
3) If getting PR or citizenship of a western country is the goal there are many countries which have a fair point based system.
4) Considering the number of fraud's committed by Indian body shoppers and people who use them, i am not surprised USCIS is extra careful when it comes to Indian applications. Anyone who got his wife with no exp with software dev an h1b visa from some cheat in Jersey knows what i am talking bout . My freind got his wife an H1 after showing she knew software testing even though her major was fine arts and all she was good at was web surfing :)
5) have a back up. i came here in 2001 as student and have seen it all. I am on h1b since 2004. i knew we have too many people whose sole aim in life is a American GC. to avoid becoming one of those who check processing dates first thing in morning, i applied for Canadian PR, got it in 8 months and i am not even gonna bother applying for labor, i-140 and all those precious life controlling documents.
Wake up friends, you have options. Don't let your life depend on you application status.
Nitin
Nitin
USCIS has a format which needs to be followed to get a GC. We all know that how much they follow the format/procedure and how much they screw people from India/China (mostly Indians)
There is no set goal to be just in a WESTERN Country but there is an option to be in US (or for argument UK AUS etc) but that is an option. No one forces us to be here or to be anywhere.........Arn't we here by choice?
I am now sick of hearing about the fraud on h1b. If 20 people out of 100 are like bad apples does that gives USCIS the right to screw people from that country for GC. What is the relationship here? Why all Indians have to suffer due to some pathetic people? Why do we GENERALISE such things?
Not defending any of those people but if someone KNOWS S/W testing and that person is skilled in it why cant that person work? Just the damn degree does not gives anything, one needs real work knowledge.
Could write more but I guess I m done with this post....
Few points:
1) having gc is a privilege not a right.
2) US has every right to choose whom they want to have in their country.
3) If getting PR or citizenship of a western country is the goal there are many countries which have a fair point based system.
4) Considering the number of fraud's committed by Indian body shoppers and people who use them, i am not surprised USCIS is extra careful when it comes to Indian applications. Anyone who got his wife with no exp with software dev an h1b visa from some cheat in Jersey knows what i am talking bout . My freind got his wife an H1 after showing she knew software testing even though her major was fine arts and all she was good at was web surfing :)
5) have a back up. i came here in 2001 as student and have seen it all. I am on h1b since 2004. i knew we have too many people whose sole aim in life is a American GC. to avoid becoming one of those who check processing dates first thing in morning, i applied for Canadian PR, got it in 8 months and i am not even gonna bother applying for labor, i-140 and all those precious life controlling documents.
Wake up friends, you have options. Don't let your life depend on you application status.
Nitin
Nitin
USCIS has a format which needs to be followed to get a GC. We all know that how much they follow the format/procedure and how much they screw people from India/China (mostly Indians)
There is no set goal to be just in a WESTERN Country but there is an option to be in US (or for argument UK AUS etc) but that is an option. No one forces us to be here or to be anywhere.........Arn't we here by choice?
I am now sick of hearing about the fraud on h1b. If 20 people out of 100 are like bad apples does that gives USCIS the right to screw people from that country for GC. What is the relationship here? Why all Indians have to suffer due to some pathetic people? Why do we GENERALISE such things?
Not defending any of those people but if someone KNOWS S/W testing and that person is skilled in it why cant that person work? Just the damn degree does not gives anything, one needs real work knowledge.
Could write more but I guess I m done with this post....
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ajju
03-13 01:20 PM
It is not easy to tear apart a Green card - u need a sharp instrument - and be careful because u may hurt urself if u do it with the levels of frustration :) :)
shredder is a safer choice ;-)
In response to red dots: Guess people can't handle the pun.. and start giving red dots.. I am close to getting fed up and stop wasting my time answering folks...
shredder is a safer choice ;-)
In response to red dots: Guess people can't handle the pun.. and start giving red dots.. I am close to getting fed up and stop wasting my time answering folks...
nogc_noproblem
01-30 10:10 PM
Now it is 24 and 27
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prashantc
01-22 11:49 AM
Dear All, Which number do you call to talk to Chennai consulate officials? The number given on the website seems to only have information, and no operators.
more...
smisachu
12-21 12:03 PM
Any one...Any suggestions:confused::confused:
when
07-18 04:05 PM
:-|
more...
Legal
06-12 04:11 PM
There are so many ifs and buts. our interests are best served with out the big vehicle CIR. If thats the only vehicle, we possibly are going to be held hostage.
Very true. Also members should stay away from promoting one presidential candidate versus other. How does it help our cause? This has nothing to do with free speech. There are so many other websites for such discussions.
Very true. Also members should stay away from promoting one presidential candidate versus other. How does it help our cause? This has nothing to do with free speech. There are so many other websites for such discussions.
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GC_1000Watt
01-08 06:07 PM
I believe it will be the same old story. They will wait till last quarter and then will waste thousands of visa numbers because of their darn slow processing hands and we people will again start talking optimism from Oct 2010.
What happened to the IV's talk with USCICS on spillover policies? Does anybody know?
What happened to the IV's talk with USCICS on spillover policies? Does anybody know?
more...
imneedy
02-27 02:08 PM
Do you know if labor substitution for future employment is possible.
I am working with company A and company B have labor approved with 2003 priority date. I want to work with company A till my I-140 labor substitution application (from employer B) is approved by uscis.
Do you know if it is possible?
Thanks in advance!!
I am working with company A and company B have labor approved with 2003 priority date. I want to work with company A till my I-140 labor substitution application (from employer B) is approved by uscis.
Do you know if it is possible?
Thanks in advance!!
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desi3933
08-19 03:31 PM
Congratulations on your Citizenship desi3933!!
Whom you gonna vote? Obama or McCain? I think thats the
only difference between GC and Citizenship. Ofocurse if you do
something bad you will goto jail and no deportation :D
So you gonna start some company? I could give you some tips :D
Good luck.
>> Congratulations on your Citizenship desi3933!!
Thanks Babu.
>> Whom you gonna vote? Obama or McCain?
Not going to tell you that.
>> I think that's the only difference between GC and Citizenship.
Incorrect. There are LOT of differences.
1. Visa free travel to many countries
2. No need to maintain GC status, even if I spend >1 year out of US
3. Can work on jobs that require Security Clearance
4. Can sponsor GC for Parents/Siblings
5. Be part of School PTA
>> So you gonna start some company? I could give you some tips
Thanks for your offer, but it is little late. :D I already have a company. Just because I never mentioned it (Like you did), you assumed that I don't have a company. Tip - Never assume anything. In case of doubt, please ask first.
Have a good day!
Whom you gonna vote? Obama or McCain? I think thats the
only difference between GC and Citizenship. Ofocurse if you do
something bad you will goto jail and no deportation :D
So you gonna start some company? I could give you some tips :D
Good luck.
>> Congratulations on your Citizenship desi3933!!
Thanks Babu.
>> Whom you gonna vote? Obama or McCain?
Not going to tell you that.
>> I think that's the only difference between GC and Citizenship.
Incorrect. There are LOT of differences.
1. Visa free travel to many countries
2. No need to maintain GC status, even if I spend >1 year out of US
3. Can work on jobs that require Security Clearance
4. Can sponsor GC for Parents/Siblings
5. Be part of School PTA
>> So you gonna start some company? I could give you some tips
Thanks for your offer, but it is little late. :D I already have a company. Just because I never mentioned it (Like you did), you assumed that I don't have a company. Tip - Never assume anything. In case of doubt, please ask first.
Have a good day!
more...
gumpena
09-15 06:42 PM
Our only hope is HR5882. Please start calling congressmen..
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desi485
02-22 12:57 PM
some one specified showing extended I-797 with AP at POE and getting I-94 till the end of extended H1B I-797.
is this true? I am expecting my extension notice soon and if I get it in hand before I travel, should I volunteer to show at POE to IO?
is this true? I am expecting my extension notice soon and if I get it in hand before I travel, should I volunteer to show at POE to IO?
more...
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raj1998
04-21 08:58 AM
thanks for agreeing with me :)
hey are you Sheila Ann or Sheila Kijawani ? :D
hey are you Sheila Ann or Sheila Kijawani ? :D
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gcisadawg
03-11 01:30 PM
How does insulting your own culture help us here ? "Crab mentality" as it is popularly known, exists in numerous cultures across the world. Go google for the term and you will know.
Forget about Cultures, it exists even within families across numerous cultures. Many times we have seen cases where one family member is jealous of the success of others and trying to put him/her down.
Forget about Cultures, it exists even within families across numerous cultures. Many times we have seen cases where one family member is jealous of the success of others and trying to put him/her down.
more...
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ujjvalkoul
05-24 01:34 PM
Guys , I want to setup a poll for finding out how many of us would leave US if this bill passes w/o our provisions....how to setup a poll ...can some one set it up..
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number30
05-08 07:14 PM
Congrats DESI
US citizenship is a final stop for most/many immigrants. Post Sep 11, there has been a surge in nationalization applications because technically GC is like a long term visa to stay permanently. Therefore there is always a risk of losing GC because of DUI or other trivial or accidental issues etc.
Also post Sep 11, a lot of govt/sensitive projects that were available for GC only have been restricted to US Citizens. You lose a significant chunk of the available jobs market if you are a GC holder in the Maryland/DC/North Virgina area. In fact I know a lot of GC who kept their old passports but because of these hassles eventually decided for Naturalization.
Yes that is the one reason. Moreover i can get the Indian citizenship back by staying in India for 5 years on OCI card or PIO card. It is that simple. But Once i go back to India coming here is big problem. So I planned to take USC and Do an R2I later whenever i need or I want.
This week i became an USC after 9 years of stay in US. I can retain USC and stay in India. Came to US in 2000. Applied GC in 2002 Jan got the green card 2003 December with EB3
funny thing is While starting the Interview officer said " Oh you are a new immigrant" . I said I am here since year 2000. Officer replied you have just completed 5 years on Green card.
US citizenship is a final stop for most/many immigrants. Post Sep 11, there has been a surge in nationalization applications because technically GC is like a long term visa to stay permanently. Therefore there is always a risk of losing GC because of DUI or other trivial or accidental issues etc.
Also post Sep 11, a lot of govt/sensitive projects that were available for GC only have been restricted to US Citizens. You lose a significant chunk of the available jobs market if you are a GC holder in the Maryland/DC/North Virgina area. In fact I know a lot of GC who kept their old passports but because of these hassles eventually decided for Naturalization.
Yes that is the one reason. Moreover i can get the Indian citizenship back by staying in India for 5 years on OCI card or PIO card. It is that simple. But Once i go back to India coming here is big problem. So I planned to take USC and Do an R2I later whenever i need or I want.
This week i became an USC after 9 years of stay in US. I can retain USC and stay in India. Came to US in 2000. Applied GC in 2002 Jan got the green card 2003 December with EB3
funny thing is While starting the Interview officer said " Oh you are a new immigrant" . I said I am here since year 2000. Officer replied you have just completed 5 years on Green card.
more...
makeup ackgrounds for computer
desi3933
03-22 12:36 PM
AC21 is a law but certain provisions of AC21 have been introduced in separate memos.
Job portability under AC21 is also part of a guidance / memo - so if any AC21 case goes for hearing in an immigration court, any change of employers while 485 is pending is considered illegal. This is not very common though.
Incorrect!
Job Portability is part of AC-21 law. Read for yourself.
AC-21 law (http://frwebgate.access.gpo.gov/cgi-bin/getpage.cgi?position=all&page=H9005&dbname=2000_record)
��(j) JOB FLEXIBILITY FOR LONG DELAYED APPLICANTS FOR ADJUSTMENT OF STATUS TO PERMANENT RESIDENCE.�
A petition under subsection (a)(1)(D) for an individual whose application for adjustment of status pursuant to section 245 has been filed and remained unadjudicated for 180 days or more shall remain valid with respect to a new job if the individual changes jobs or employers if the new job is in the same or a similar occupational classification as the job for which the petition was filed.��
_________________
Not a legal advice.
Job portability under AC21 is also part of a guidance / memo - so if any AC21 case goes for hearing in an immigration court, any change of employers while 485 is pending is considered illegal. This is not very common though.
Incorrect!
Job Portability is part of AC-21 law. Read for yourself.
AC-21 law (http://frwebgate.access.gpo.gov/cgi-bin/getpage.cgi?position=all&page=H9005&dbname=2000_record)
��(j) JOB FLEXIBILITY FOR LONG DELAYED APPLICANTS FOR ADJUSTMENT OF STATUS TO PERMANENT RESIDENCE.�
A petition under subsection (a)(1)(D) for an individual whose application for adjustment of status pursuant to section 245 has been filed and remained unadjudicated for 180 days or more shall remain valid with respect to a new job if the individual changes jobs or employers if the new job is in the same or a similar occupational classification as the job for which the petition was filed.��
_________________
Not a legal advice.
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smisachu
08-01 05:34 PM
Hi smisachu,
Could you explain what you mean by this? Are you referring to "Flash Trading"
or the whole of HFT?
Yes Flash trading, ELP (enhanced liquidity program), direct access trading and even other program trading. The programs seek out discreet blocks that are being routed into the market and front run them. The main culprit according to many is GS. And to acheive a significant alpha the size and leverage are huge. Some program with a bug will dump a lot of shares on the market some day and before any one can react. Here is an article on some info that was made available only to bloomberg users.
"Lime Brokerage: "The Next 'Long Term Capital' Meltdown Will Happen In
A Five-Minute Time Period."
Posted by Tyler Durden at 11:25 AM
A recent Bloomberg piece that for some reason was made available only
to terminal subscribers, provides a very interesting discussion on the
dangers of sponsored access, how the associated pre-trade vs post-
trade monitoring deliberations by "regulators" will influence short
selling curbs, and not surprisingly, the desire by Goldman to not only
dominate this yet another aspect of high-frequency trading, but to
dictate market policy at will.
What is sponsored access:
In sponsored access, a broker-dealer lends its market participation
identification (MPID) number to clients for them to trade on exchanges
without going through the broker's trading system, to avoid slowing
down the execution. That places responsibility on the broker-dealer to
make sure the participant abides by securities regulations, and that
its trading, which can involve hundreds or thousands of orders a
second, does not run amok.
Is it thus surprising, that none other than Goldman Sachs is muscling
its way into providing not only a sponsored access platform to its
clients, but a new form of sponsored access that needs the blessing of
regulators:
Wall Street heavyweight Goldman Sachs, now launching its own sponsored-
access service to lend clients its identification to access securities
exchanges directly, said last week it favors monitoring client orders
prior to execution.
"Our view is that there is a real need for pre-trade checks in the use
of sponsored access to fulfill [broker-dealers'] regulatory
responsibilities," said Greg Tusar, managing director at Goldman.
Goldman's stand in favor of pre-trade instead of post-trade monitoring
of sponsored clients' activity is one side of a debate in which
regulators may choose a middle ground. The regulators' decision on how
to monitor sponsored access may also influence their deliberations on
restricting short sales.
What is the difference between pre-trade and post-trade monitoring? In
brief:
Pre-trade
Compliant with Reg SHO
Nip problems before they happen
View activity across exchanges
Post-trade
Faster order executions
Pre-trade systems still fallible
And another tidbit:
In traditional sponsored-access arrangements, a broker-dealer
determines a client's suitability to access market centers directly
and then allows the client to trade without monitoring its individual
orders prior to execution.
In other words, the Goldman endorsed pre-trade approach will allow
"monitoring of individual orders prior to execution." Whether or not
pre-trade checks provide the capacity to observe not just wholesale
exchange activity in the context of sponsored access but from a much
broader market angle is a discussion for another time, although this
could be one place where Sergey Aleynikov could shed an infinite
amount of light, especially as pertains to Goldman's sponsored-access
service. Conveniently, his gag order will prevent him from saying much
if anything until such time as there is an appetizing settlement to
keep him gagged in perpetuity. The bottom line is that with a pre-
trade environment, the sponsored access providers will be able to have
the potential to front run all those who use their platforms. The
residual question of how far they go to comply with regulations to
prevent this from happening, and remain true to their ethics standards
is also a topic for another day.
Going back to the topic at hand. Here is why sponsored access could
easily be quite a bother to capital markets sooner rather than later:
Unchecked errors or unintended repeat orders could deplete broker-
dealers' capital, and potentially wreak havoc in the broader market.
Concerns have arisen, however, about whether all broker-dealers are
able to fulfill that duty in today's electronic trading environment,
and according to which standards.
And here Goldman chimes in to not only promote their proposed
architecture but to expound on the virtues of pre-trade checking.
"In the case of high-frequency trading, in particular guarding against
technology failures, oversized orders and other situations where
there's potentially systemic market impact, we believe strongly that
pre-trade checks are a prerequisite," Tusar says.
Nasdaq's proposal as well as Securities and Exchange Commission
officials' speeches a few months ago appeared to lean toward
bolstering the traditional approach.
"We don't believe that's strong enough or what the regulators want
now, because of the potentially dire consequences, and because we-as
broker-dealers-bear much of that risk," Tusar says.
Now the reason why this is very relevant in the context of not just
potential front running, but also market structure is that Regulation
SHO, which is the primary regulatory framework for short selling (and
the purvey of potential Uptick Rule reinstatement, which will happen
once the market is allowed to hit a bid) is a post-trade
architecture.
Wedbush [Morgan] routinely tests clients' systems to ensure they are
compliant with Reg SHO. In addition, he says, the brokerage sets
limits on clients available locates-as well as credit and trading
limits--before the start of each trading day that its system tracks,
prohibiting shorts without locates and providing a type of pre-trade
check.
Or as has recently become the case, seeing rolling buy ins in the
middle of the day as borrowable shares in even the most liquid stocks
mysteriously disappear (look at today's market action for yet another
blatant example of this practice).
Anticipating the regulators' likely response, one should not be
surprised to see them siding with Goldman and against shorters:
As the SEC also seeks to appease investor concerns over rampant short
selling, especially naked short selling, new sponsored-access
standards may provide part of the solution. Given that day-traders may
be the last remaining culprits of such activity,, increasing and
standardizing scrutiny over their trading may reduce uncovered (and
illegal) shorts even further.
How about appeasing concerns over rampant, unjustified buying? When
will the downtick buy rule be implemented? But we jest.
And I digress again. Why should all this be concerning to advocates of
stability of high-frequency trading:
The mother of all concerns is a sponsored firm's algorithm going awry
and executing thousands of problematic trades across a range of
securities and market centers.
Well, this is not really a problem when it happens to the upside as
has been the case for months now - it is only a threat when Joe
Sixpack's 401(k) may be impacted, i.e., to the downside.
And here is where a SEC Comment submitted by broker Lime Brokerage is
a very troubling must read by all who naively claim that High-
frequency trading is a boon to an efficient market (which doesn't
provide . Well, yes and no - it is, until such moment that it causes
the market to, literally, break. I will post a critical excerpt from
the Lime submission, and leave the rest to our readers' independent
analysis:
Lime's familiarity with high speed trading allows us to benchmark some
of the fastest computer traders on the planet, and we have seen CDT
(Computerized Day Trading) order placement rates easily exceed 1,000
orders per second. Should a CDT algorithm go awry, where a large
amount of orders are placed erroneously or where the orders should not
have passed order validation, the Sponsor will incur a substantial
timelag in addressing the issue. From the moment the Sponsor�s
representative detects the problem until the time the problematic
orders can be addressed by the Sponsor, at least two mintues will have
passed. The Sponsor�s only tools to control Sponsored Access flow are
to log into the Trading Center�s website (if available), place a phone
call to the Trading Center, or call the Sponsee to disable trading and
cancel these erroneous orders � all sub-optimal processes which
require human intervention. With a two minute delay to cancel these
erroneous orders, 120,000 orders could have gone into the market and
been executed, even though an order validation problem was detected
previously. At 1,000 shares per order and an average price of $20 per
share, $2.4 billion of improper trades could be executed in this short
timeframe. The sheer volume of activity in a concentrated period of
time is extremely disruptive to the process of maintaining a �fair and
orderly� market. This shortcoming needs to be addressed if the
practice of Naked Access is going to be permitted to continue;
otherwise, the next �Long Term Capital� meltdown will happen in a five-
minute time period.
Could you explain what you mean by this? Are you referring to "Flash Trading"
or the whole of HFT?
Yes Flash trading, ELP (enhanced liquidity program), direct access trading and even other program trading. The programs seek out discreet blocks that are being routed into the market and front run them. The main culprit according to many is GS. And to acheive a significant alpha the size and leverage are huge. Some program with a bug will dump a lot of shares on the market some day and before any one can react. Here is an article on some info that was made available only to bloomberg users.
"Lime Brokerage: "The Next 'Long Term Capital' Meltdown Will Happen In
A Five-Minute Time Period."
Posted by Tyler Durden at 11:25 AM
A recent Bloomberg piece that for some reason was made available only
to terminal subscribers, provides a very interesting discussion on the
dangers of sponsored access, how the associated pre-trade vs post-
trade monitoring deliberations by "regulators" will influence short
selling curbs, and not surprisingly, the desire by Goldman to not only
dominate this yet another aspect of high-frequency trading, but to
dictate market policy at will.
What is sponsored access:
In sponsored access, a broker-dealer lends its market participation
identification (MPID) number to clients for them to trade on exchanges
without going through the broker's trading system, to avoid slowing
down the execution. That places responsibility on the broker-dealer to
make sure the participant abides by securities regulations, and that
its trading, which can involve hundreds or thousands of orders a
second, does not run amok.
Is it thus surprising, that none other than Goldman Sachs is muscling
its way into providing not only a sponsored access platform to its
clients, but a new form of sponsored access that needs the blessing of
regulators:
Wall Street heavyweight Goldman Sachs, now launching its own sponsored-
access service to lend clients its identification to access securities
exchanges directly, said last week it favors monitoring client orders
prior to execution.
"Our view is that there is a real need for pre-trade checks in the use
of sponsored access to fulfill [broker-dealers'] regulatory
responsibilities," said Greg Tusar, managing director at Goldman.
Goldman's stand in favor of pre-trade instead of post-trade monitoring
of sponsored clients' activity is one side of a debate in which
regulators may choose a middle ground. The regulators' decision on how
to monitor sponsored access may also influence their deliberations on
restricting short sales.
What is the difference between pre-trade and post-trade monitoring? In
brief:
Pre-trade
Compliant with Reg SHO
Nip problems before they happen
View activity across exchanges
Post-trade
Faster order executions
Pre-trade systems still fallible
And another tidbit:
In traditional sponsored-access arrangements, a broker-dealer
determines a client's suitability to access market centers directly
and then allows the client to trade without monitoring its individual
orders prior to execution.
In other words, the Goldman endorsed pre-trade approach will allow
"monitoring of individual orders prior to execution." Whether or not
pre-trade checks provide the capacity to observe not just wholesale
exchange activity in the context of sponsored access but from a much
broader market angle is a discussion for another time, although this
could be one place where Sergey Aleynikov could shed an infinite
amount of light, especially as pertains to Goldman's sponsored-access
service. Conveniently, his gag order will prevent him from saying much
if anything until such time as there is an appetizing settlement to
keep him gagged in perpetuity. The bottom line is that with a pre-
trade environment, the sponsored access providers will be able to have
the potential to front run all those who use their platforms. The
residual question of how far they go to comply with regulations to
prevent this from happening, and remain true to their ethics standards
is also a topic for another day.
Going back to the topic at hand. Here is why sponsored access could
easily be quite a bother to capital markets sooner rather than later:
Unchecked errors or unintended repeat orders could deplete broker-
dealers' capital, and potentially wreak havoc in the broader market.
Concerns have arisen, however, about whether all broker-dealers are
able to fulfill that duty in today's electronic trading environment,
and according to which standards.
And here Goldman chimes in to not only promote their proposed
architecture but to expound on the virtues of pre-trade checking.
"In the case of high-frequency trading, in particular guarding against
technology failures, oversized orders and other situations where
there's potentially systemic market impact, we believe strongly that
pre-trade checks are a prerequisite," Tusar says.
Nasdaq's proposal as well as Securities and Exchange Commission
officials' speeches a few months ago appeared to lean toward
bolstering the traditional approach.
"We don't believe that's strong enough or what the regulators want
now, because of the potentially dire consequences, and because we-as
broker-dealers-bear much of that risk," Tusar says.
Now the reason why this is very relevant in the context of not just
potential front running, but also market structure is that Regulation
SHO, which is the primary regulatory framework for short selling (and
the purvey of potential Uptick Rule reinstatement, which will happen
once the market is allowed to hit a bid) is a post-trade
architecture.
Wedbush [Morgan] routinely tests clients' systems to ensure they are
compliant with Reg SHO. In addition, he says, the brokerage sets
limits on clients available locates-as well as credit and trading
limits--before the start of each trading day that its system tracks,
prohibiting shorts without locates and providing a type of pre-trade
check.
Or as has recently become the case, seeing rolling buy ins in the
middle of the day as borrowable shares in even the most liquid stocks
mysteriously disappear (look at today's market action for yet another
blatant example of this practice).
Anticipating the regulators' likely response, one should not be
surprised to see them siding with Goldman and against shorters:
As the SEC also seeks to appease investor concerns over rampant short
selling, especially naked short selling, new sponsored-access
standards may provide part of the solution. Given that day-traders may
be the last remaining culprits of such activity,, increasing and
standardizing scrutiny over their trading may reduce uncovered (and
illegal) shorts even further.
How about appeasing concerns over rampant, unjustified buying? When
will the downtick buy rule be implemented? But we jest.
And I digress again. Why should all this be concerning to advocates of
stability of high-frequency trading:
The mother of all concerns is a sponsored firm's algorithm going awry
and executing thousands of problematic trades across a range of
securities and market centers.
Well, this is not really a problem when it happens to the upside as
has been the case for months now - it is only a threat when Joe
Sixpack's 401(k) may be impacted, i.e., to the downside.
And here is where a SEC Comment submitted by broker Lime Brokerage is
a very troubling must read by all who naively claim that High-
frequency trading is a boon to an efficient market (which doesn't
provide . Well, yes and no - it is, until such moment that it causes
the market to, literally, break. I will post a critical excerpt from
the Lime submission, and leave the rest to our readers' independent
analysis:
Lime's familiarity with high speed trading allows us to benchmark some
of the fastest computer traders on the planet, and we have seen CDT
(Computerized Day Trading) order placement rates easily exceed 1,000
orders per second. Should a CDT algorithm go awry, where a large
amount of orders are placed erroneously or where the orders should not
have passed order validation, the Sponsor will incur a substantial
timelag in addressing the issue. From the moment the Sponsor�s
representative detects the problem until the time the problematic
orders can be addressed by the Sponsor, at least two mintues will have
passed. The Sponsor�s only tools to control Sponsored Access flow are
to log into the Trading Center�s website (if available), place a phone
call to the Trading Center, or call the Sponsee to disable trading and
cancel these erroneous orders � all sub-optimal processes which
require human intervention. With a two minute delay to cancel these
erroneous orders, 120,000 orders could have gone into the market and
been executed, even though an order validation problem was detected
previously. At 1,000 shares per order and an average price of $20 per
share, $2.4 billion of improper trades could be executed in this short
timeframe. The sheer volume of activity in a concentrated period of
time is extremely disruptive to the process of maintaining a �fair and
orderly� market. This shortcoming needs to be addressed if the
practice of Naked Access is going to be permitted to continue;
otherwise, the next �Long Term Capital� meltdown will happen in a five-
minute time period.
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bluekayal
10-08 01:21 PM
You can use your H1 without needing an EAD IF you continue working for the same employer. Please google "Cronin memo." I am doing it.
sammyb
01-30 05:19 PM
it is now Q26 ....
good find man ...
good find man ...
chanduv23
03-22 05:15 PM
AC21 is a law but certain provisions of AC21 have been introduced in separate memos.
Job portability under AC21 is also part of a guidance / memo - so if any AC21 case goes for hearing in an immigration court, any change of employers while 485 is pending is considered illegal. This is not very common though.
Don't assume things and come up with your own theories and scare people. The entire AC21 law is basically dealing with portability at different stages for long delayed applicants.
Job portability under AC21 is also part of a guidance / memo - so if any AC21 case goes for hearing in an immigration court, any change of employers while 485 is pending is considered illegal. This is not very common though.
Don't assume things and come up with your own theories and scare people. The entire AC21 law is basically dealing with portability at different stages for long delayed applicants.